To manage and mitigate risk and lower processing costs, banks must have systems and controls in place to monitor the full lifecycle of card transactions. However, the current reconciliation environment at many firms is still too reliant on spread sheets, multiple databases and historical data to actively monitor all card-related transactions on a daily or intra-day basis.
Available as a standalone solution, or as part of the existing TLM Corona offering, it enables banks, ATM and POS deployers to automate the entire card transaction lifecycle, replacing manual activities them with proven exception-based handling processes. TLM Corona for Cards delivers a real-time operational control layer ensuring greater visibility into card transaction processing and enabling firms to manage different elements of card processing, from transaction authorisation through to issuer / acquirer settlement, inventory and invoice reconciliation.
TLM Corona for Cards combines an industry leading transaction matching engine with sophisticated investigation workflows to ensure efficient and effective resolution of unmatched items. This facilitates improved fraud detection, reduces risk and enables firms to identify any problems earlier in the transaction lifecycle, saving time and money. As a result, the solution supports improved customer service, while reducing the overall cost of payment processing.
Rudolph Schnepf, Senior Product Manager at SmartStream, commented: âAs a recognised leader in reconciliations technology, SmartStream is using its expertise to deliver new levels of visibility and control to the card transaction process. The SmartStream TLM Corona for Cards solution is a new module of the financial services industryâs most widely deployed reconciliation solution, offering proven technology used by hundreds of financial services firms globally.â